Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor will arrive in Macao Monday afternoon for a two-day working visit.
Business
The operating revenues of Wynn Palace in Cotai fell 97.4% year-on-year to US$15.7 million (MOP 125.3 million) in the third quarter of this year
Gaming operator Melco Resorts & Entertainment Limited reported on Thursday an 85% year-on-year decline in its third-quarter total operating revenues to US$210 million.
Monte do Pasto Group, a company that is part of Macao-based business group CESL Asia, has signed a partnership agreement with Innoliva, a Portuguese company owned up by Cibus Fund, to develop a sustainable regional agricultural project, according to statement jointly issued by Monte do Pasto and Innoliva.
Macao casinos’ gross gaming revenue rose 228.8% from MOP 2.21 billion in September to MOP 7.27 billion (US$910.9 million) last month.
The Macao government expects the local casino industry to generate MOP 130 billion (US$16.25 billion) in gross gaming revenue next year.
Macao gaming operator MGM China announced Friday that its net revenues decreased by 94% year-on-year to US$47 million in the third quarter.
Gaming operator SJM Holdings said on Thursday that while it has been “severely impacted” by the COVID-19 outbreak and Macao’s ongoing restrictions on entry from the mainland, Hong Kong and other places, as well as the curtailment of transportation channels and quarantine requirements, it has seen “the beginnings of recovery in visitation, hotel occupancy and visitor spending.”
Sheldon Adelson’s Las Vegas Sands is exploring the sale of its casinos in Las Vegas in a move that would mark the mogul’s exit – for now – from the US gambling industry, according to South China Morning Post (SCMP).